Bilibili (BILI, Financial) has released its financial results for the fourth quarter and full year ending December 31, 2024. The company reported a total net revenue of ¥7.73 billion, marking a 22% increase compared to the previous year. Net profit for the quarter was ¥88.9 million, a significant turnaround from a net loss of ¥1.3 billion in the same period last year. Adjusted net profit, excluding non-GAAP measures, was ¥452 million, compared to a net loss of ¥555.8 million a year ago.
For the entire year of 2024, Bilibili's total revenue reached ¥26.83 billion, growing by 19%. The net loss for the year narrowed by 72% to ¥1.36 billion. Adjusted net loss was reduced by 99% to ¥39 million.
In Q4, revenue from advertising grew by 24% to ¥2.39 billion, while mobile game revenue surged by 79% to ¥1.8 billion. Value-added services contributed ¥3.08 billion, up 8%, whereas revenue from IP derivatives and other businesses fell by 16% to ¥464.9 million.
The cost of revenue increased by 5% to ¥4.95 billion, while gross profit rose by 68% to ¥2.79 billion. Operating expenses decreased by 10% to ¥2.66 billion, driven by a 31% reduction in R&D spending. Operating profit was ¥126.4 million, compared to an operating loss of ¥1.3 billion in the previous year. Adjusted operating profit was ¥463.1 million, a significant improvement from a loss of ¥635.1 million last year.
During the fourth quarter, average daily active users (DAU) reached 103 million, and monthly active users (MAU) hit 340 million.
